Underpinned by continued strengthening in average daily rate (ADR), STR and Tourism Economics have slightly upgraded the U.S. hotel forecast, just released at the Americas Lodging Investment Summit (ALIS).
The timeline for recovery remains mostly the same from the previous version of the forecast released in November. On a nominal basis, ADR is expected to surpass the pre-pandemic comparable this year, while revenue per available room (RevPAR) is anticipated to exceed 2019 levels in 2023. When adjusted for inflation, however, full recovery of ADR and RevPAR are not projected until after 2025. Occupancy is projected to surpass 2019 levels in 2023.
